Location: Tampa-St. Petersburg-Clearwater, FL | Metro: Tampa-St. Petersburg-Clearwater, FL MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,610 |
| 1 Bedroom | $1,660 |
| 2 Bedrooms | $1,930 |
| 3 Bedrooms | $2,470 |
| 4 Bedrooms | $3,000 |
| 5 Bedrooms | $3,480 |
| 6 Bedrooms | $3,898 |
| 7 Bedrooms | $4,210 |
| 8 Bedrooms | $4,421 |
The Fair Market Rent (FMR) for ZIP code 33775 in Florida for fiscal year 2024 is set at $1850. This figure represents the maximum amount that a landlord can charge for rent under the Section 8 program, which is also known as the Housing Choice Voucher Program. It's important to note that this is not the actual rent you will receive but rather the payment standard used by the housing authority to determine the amount of assistance they will provide.
In ZIP 33775, the local median gross rent is currently listed as N/A, which makes direct comparison challenging. However, the FMR serves as a benchmark for what is considered reasonable rent in the area. The percentage of residents who are renters in this ZIP code is N/A%, indicating a significant demand for rental properties among the local population.
The acquisition cost, or the price at which you might purchase a property suitable for a Section 8 tenant, is also listed as N/A. This cost is influenced by various factors including property condition, location, and size. Understanding the local market's acquisition costs will help you determine if investing in a Section 8 rental property aligns with your financial goals.
Before you decide to enter the Section 8 market with your first rental property in ZIP 33775, ensure that your property meets all the necessary inspection criteria. The housing authority conducts regular inspections to make sure that the rental unit complies with health and safety standards. Failing to meet these requirements can result in reduced payments or even termination of the contract.
To summarize, the FMR of $1850 in ZIP 33775 sets the ceiling on what you can charge for rent under the Section 8 program. With N/A% of the population being renters, there is a strong demand for affordable housing. While the exact median rent and acquisition cost are not available, confirming that your property passes the required inspections is crucial for a successful Section 8 rental venture.
Data Sources: FMR data from HUD (2027).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.